ISLAMABAD: Implementation of the Islamabad MoU faces a fresh strain as US-Iran hostilities resumed and the Strait of Hormuz remains a key obstacle to a final treaty.
The interim agreement gives Washington and Tehran 60 days to negotiate a final treaty, with an extendable deadline and a planned binding United Nations Security Council resolution.
Under the MoU, the United States would terminate all types of sanctions on Iran. Until then, Washington would grant waivers for Iranian crude oil and petrochemical exports and release frozen and restricted Iranian funds.
The agreement also refers to a $300 billion economic reconstruction plan for Iran, in cooperation with regional Gulf partners.
In return, Iran agreed not to procure or develop nuclear weapons and to maintain the current status of its nuclear programme until the final deal.
Iran’s enriched uranium stockpile would be disposed of through a mechanism to be agreed upon by both sides. The MoU also bars the use or threat of force between the United States and Iran.
Washington would end its naval blockade of Iran within 30 days, while Tehran would make its best efforts to lift the Strait of Hormuz blockade and allow commercial cargo passage for 60 days.
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The future administration of the strait would be discussed by Iran and Oman under international law.
The deal differs from the 2015 Joint Comprehensive Plan of Action because it includes wider sanctions relief, regional clauses and a categorical Iranian pledge not to develop nuclear weapons.
